Bond market crucial for a stronger capital market: Experts
A vibrant capital market is essential for a strong economy, and the role an effective bond market plays in ensuring its stability is undeniable, according to capital market experts.
They shared the view during a daylong workshop titled "Understanding Bond and Sukuk Market," organised jointly by the Capital Market Journalists' Forum (CMJF) and the Bangladesh Institute of Capital Market (BICM) at BICM auditorium in the capital today (19 February).
The speakers at the workshop emphasised on the global popularity of Sukuk bonds and their potential to strengthen the market, also acknowledging that past policy decisions led to misuse of Sukuk by certain individuals and institutions, impacting market stability.
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The workshop was conducted by BICM Assistant Professor SM Kalbin Salima and lecturers Faima Akter and Gaurab Roy. The event was moderated by Faima.
Addressing the event, BICM's acting Executive President Nazmus Salehin highlighted the institute's role in developing skilled professionals for the capital market.
"BICM is working to create a qualified workforce, which is crucial for the stock market. Unfortunately, we are not getting the required number of skilled professionals.
"We offer a master's programme in Applied Finance and Capital Market, certified by Dhaka University, but student enrollment remains a challenge," he said.
Stressing on the necessity of bonds for capital market development, CMJF President Golam Samdani Bhuiyan said, "There is no alternative to bonds for strengthening the stock market. However, general investors lack awareness about bonds, which must be addressed through training. Workshops like this can significantly enhance investor knowledge," he said.
Former CMJF president and Editor of Arthosuchak, Ziaur Rahman, warned that unchecked misuse of bonds could erode investor confidence.
"The interim government should take strict action against those who have misused bonds and Sukuk while ensuring that retail investors are not harmed," he stated.
CMJF General Secretary Abu Ali said, "The stock market is a sensitive sector where responsible reporting is crucial. Many journalists covering this beat do not have a background in finance or business. That's why CMJF continuously works on skill development. We hope this training will positively impact both the stock market and the economy."
